March 12 is Equal Pay Day, which offers a great opportunity to share some behind-the-scenes methodologies we use to ensure equal pay across Timmons Group.
Equal pay for women is a fundamental aspect of gender equality. In many instances, women have been historically paid less than men for doing the same job, even with the same level of experience and education. The ‘universal pay gap’, as it’s referred to, limits women’s economic opportunities and contributes to the gender wealth gap.
At Timmons Group, we take great care to support our employees with equitable practices, especially when it comes to pay. We work very hard to be an industry leader that promotes fair compensation that is free from prejudice. We practice equitable pay by creating a yearly plan that includes:
- Determining annual increase and year-end bonus pools based on industry standards and firm success
- Reviewing all increase and bonus recommendations to ensure fair pay across office locations, divisions, titles, tenure, gender, race, and performance
- Hiring an independent 3rd party consultant to annually review our salaries by gender and race to ensure they are fair and equitable if pay gaps exist
- Remaining transparent, consistent, and fair in compensation for all employees
In addition to our equal pay policies, Timmons Group offers a variety of support systems for women employees, including our Women in Design resource group and platforms for women employees to be celebrated and share their stories as they pertain to work-life balance, professional development, and benefits.
This multifaceted approach has strengthened our competitive position in the industries we serve while supporting our ongoing commitment to our pay equity standards. Fair and equitable pay regardless of race, gender, and other socio-economic factors isn’t just important to our culture at Timmons Group, it’s important to ensuring equal opportunities everywhere.
“Timmons Group takes great care in ensuring pay is fair and equitable across the board. We have always had a pay for performance philosophy that rewards our top performers, but in a fair and equitable way, regardless of race or gender,” Shannon Hayes, Director of Human Resources, said.
On International Women’s Day, we celebrate and support the progress that has been made towards women’s equality, especially as it pertains to equal pay.
